Social Value

The Social Value Act was introduced in 2013 requires public sector commissioners to consider how they can secure wider social, economic and environmental benefits from their procurement.   The more social value, the more inclusive and sustainable growth and economic development becomes; and social value is now a significant component of tender scoring and assessment.

The Institute of Economic Development recently carried out a major piece of research into how social value was being delivered within the construction sector.  Despite this sector being relatively well developed in terms of social value, the IEDs findings were that there is a very long way to go and a multiplicity of challenges that need to be overcome, and it set out five key recommendations.

As experts in delivering social value, we can support public sector commissioners to engage more robustly with your disadvantaged communities to better understand their needs, and develop a clear and effective, outcome and impact focused social value strategy as a core component of your economic development policy and as a framework for bidders to work within.

We can help you navigate through the many tools for quantifying, monitoring and evaluating social value to select the most appropriate for your particular procurement, and can carry out ongoing project monitoring and evaluation.  YTKO can also train your procurement, planning and economic development teams to build their capacity and capability to ensure that more value, better outcomes and greater impact is delivered for your local communities.